But subpar it was. For the ninth time in 48 years, Berkshire’s percentage increase in book value was less than the S&P’s percentage gain (a calculation that includes dividends as well as price appreciation). In eight of…
But subpar it was. For the ninth time in 48 years, Berkshire’s percentage increase in book value was less than the S&P’s percentage gain (a calculation that includes dividends as well as price appreciation). In eight of…
One thing of which you can be certain: Whatever Berkshire’s results, my partner Charlie Munger, the company’s Vice Chairman, and I will not change yardsticks. It’s our job to increase intrinsic business value – for…
Carnegie's Gospel of Wealth argued that the rich are trustees of society's wealth and should distribute surplus wealth during their lifetimes. He rejected large inherited fortunes because they weakened heirs and wasted social value. The closing line is a moral warning: to die with vast unused wealth is to die disgraced.
Today's question
If you died today, would your wealth be seen as a legacy—or as an unfulfilled responsibility?
But subpar it was. For the ninth time in 48 years, Berkshire’s percentage increase in book value was less than the S&P’s percentage gain (a calculation that includes dividends as well as price appreciation). In eight of…
John D. Rockefeller:Random Reminiscences of Men and Events, Excerpt 53
John D. Rockefeller《Random Reminiscences of Men and Events》· Chapter III · Leadership
This plan of selling our products direct to the consumer and the exceptionally rapid growth of the business bred a certain antagonism which I suppose could not have been avoided, but this same idea of dealing with the consumer directly has been followed by others and in many lines of trade, without creating, so far as I recall, any serious opposition.
But subpar it was. For the ninth time in 48 years, Berkshire’s percentage increase in book value was less than the S&P’s percentage gain (a calculation that includes dividends as well as price appreciation). In eight of…